FBR Sets New Policy for Non-Filers Buying Bikes, Rickshaws, and Small Cars

ISLAMABAD: The National Assembly’s Standing Committee on Finance and Revenue approved a proposal on Tuesday permitting non-filers to purchase motorbikes, rickshaws, tractors, and cars up to 800cc.

Several additional amendments to the Tax Laws (Amendment) Bill 2024 were also accepted by the committee. Another proposed change would require financial institutions to report transactions involving enterprises and associations with a value greater than their reported revenue on tax filings.

There will be point-of-sale systems at every hotel in the nation’s capital, according to the Federal Board of Revenue (FBR). The committee also gave its approval to a plan to bring in more FBR specialists and auditors.

There would be no rise in taxes on automobiles up to 800cc, according to FBR Chairman Rashid Mahmood Langrial, who made that promise during the meeting.